PSO Pak State Oil Mid-Term Analysis 2nd Aug 2019

Rebound Insight

Our Pivot: 140.00

Our Preference: Buy PSO above 145.00 and average it out till 142.30 with strict stop loss of 140.00 and profit target at 152.20 and 154.04.

Alternate Scenario: Downward penetration of 140.00 will call for 137.

NOTE: PSO have bounced back after getting support from a horizontal supportive region and right now daily and weekly momentum indicators have changed their direction towards bullish side and these would try to push it towards 152 and 154 Rs.

Daily Chart with Supports and Resistances: